19 November, 2017

Budget 2018: Full Text Of The Speech In Three Languages

The budget speech of 2018 by Finance Minister Mangala Samaraweera in all three languages:

To read in English click here

To read in Sinhala click here

To read in Tamil click here

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Latest comments

  • 1
    1

    Budget proposals mean nothng unless they are implemented. Very few 2016 proposals implemented todate which is very disappointing.

    Successive govts have no consistent policy on alcohol and motor vehicles. Electric cars duty slashed again and beer taxes cut. This is the right ting to do but consistent policy required. Harry and other liquor companies must be screaming !!

    No significant boost for exports which is disappointing. The new tax on banking transactions is unfortunate.

    Support for SMEs should be applauded. Hope govt expenditure will be curtailed and thank god no salary increases to govt servants. Last increase of Rs 10,000 cost the govt Rs 15 billion per month.!!

    Very happy to see sale of BoC and Peoples Bank shares. This would improve transparency and governance big time.

    Overall no Big Bang reforms but thank god no howlers !!

    • 2
      0

      We need a 60% cut on duty imposed on electric vehicles not this eyewash of 1 million reduction…

      We need to make renewable energy products much cheaper…

      Solar panels should have their duty cut by 75%

      Why is the government being a hindrance to the public’s effort to switch to renewable energy!!?

      Drop the taxes so that the citizens of Sri Lanka can play their part…

  • 2
    0

    Just a bloody eye wash…..another one like the other one
    absolutely nothing new… no enthusiasm by the people..
    Who increase the commodity prices…? Govt. ….Who reduce the commodity prices …? Govt..
    Did anyone agitated demanding an increase or decrease of commodity prices …? NO
    Then why reduce or increase that have domino effect on all areas of revenue generation..?
    The Finance Minister has taken over the Pettah Trade…
    Since 2015 the Fuel Prices were reduced from Rs 150 – 117.
    What positive impact that action have the Country…? ….
    did the transport cost reduced…?
    the commodity or other goods prices reduced…?
    The coconut that was Rs.50 – 60 is Rs 115.00 today ….1kg fish is Rs.1,000 – 2,500
    during the last 2 years the bus fares were increased twice….
    and today…. the Country has no money to maintain an adequate buffer stock…
    Because the Govt is losing billions of revenue on that action on a commodity that has no direct impact on the economy…
    Such actions are taken when there is a surplus of money….
    Foolish decisions of our idiots..

  • 1
    1

    KASmaalam K A Sumanasekere, Jimmy the Dimwit, ….. and other fellow Budget Analysts

    Could we have some abusive, ill-informed, ignorant, stupid, bigotted …… typing on the 2018 Budget.

    Does anyone know how the national cake has been divided among Vellalas, Christians, Wahabis, …………… ?

    • 1
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      Dumb native vedda: ther majority woman share holder sold her shares to the highest foreign bidder. Now, theare are no caps to foreign buyers of bank like stocks. foreigners buy it screw up again wht ever left over by Ranil and the gang of thieves.

      • 0
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        Jimsofty the Dimwit

        What is the relevance of your typing to my comment earlier?

  • 1
    0

    Competitiveness is good, provided our country is not ‘structurally adjusted’ by neo-liberal orthodoxy. By fast-tracking liberalization, one would in time observe increased operations of global capital within Sri Lanka with minimum or no restrictions and free flow of finance capital with the intervention of international lending agencies, which are known to have imposed conditions that impinge on the economic sovereignty of debtor countries, dictacting the control of not only specific projects and sectors, but also the direction of the entire macro-economic policy. Let our country not fall into that debt trap and become a listless and lethargic market economy.

  • 1
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    Also let us not get caught up in the superpowers geo-politics.

  • 1
    0

    This Budget is a “Tipsy Bartender’s Budget” !!!
    .
    Mangala, I am sure, was tipsy and had a cigar between his fingers, when he prepared the 2018-Budget.
    .
    I am still reading the Document on CT. Let’s see what I noticed at a glance.
    .
    Some Proposals are totally against President’s highly commendable principles/policies.
    1. A complete blow to President’s Zero-Booze country.
    2. A serious blow to President’s Smoke-Free country.
    3. A major blow to President’s striving to Boost Local Industries.
    .
    Our country should be governed by politicians who have children, then they will think about the future generation and the country rather than trying to exploit every nook and cranny to make money. This government only see money, they don’t see or have absolutely no regard of young & adults or the future of the country. What do we expect from a government whose PM/FM/EM/L&O/JM/W&CAM have no children? (My apologies, if I am wrong, but the mentality of these Ministers prove that there is less chance for them to have children.) Ok, I am sorry. I need not be this harsh. When we were small , my mother taught us, there are 5 things you should never ask from anybody or discuss even in private. 1. One’s occupation 2. Salary 3. Age 4. Marital status 5. Whether they have children. But what can I do, when I saw Budget Proposals, I couldn’t help but think about the future of our children/nation/country. When are we going to stand up as an independent, debt free nation without supporting our own industries? And a tax on withdrawing money? How are we going to raise our children without fear that they will not be subject to emotional/physical/social abuse due to government’s harmful policies to promote booze and smoking?

    • 1
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      Many Budget Proposals are suitable for a developed country, not a country like Sri Lanka. The PM and UNP Ministers have Western mentality whose minds roam in a fantasy culture although they are physically here. I have noticed the following.
      .
      (1.) “Temporary tax of 20 cents per 1,000 rupees will be imposed from April 1, 2018 on all banking transactions as a loan repayment tax for the next three years.”
      This is totally unacceptable. Repayment of loans is the responsibility of the government and they should initiate money generating projects without putting more burden on people.
      .
      2. “VAT refund scheme for foreign passport holders at airports and seaports from May 1, 2018.”
      Look at this. Why does this government bother to benefit foreigners than its own people? This scheme is not necessary at all as this type of facilities are offered by developed countries. Is this government insane to give away tax money earned from foreigners while imposing taxes on everything under sun on its citizens?
      .
      3. “Rs 1 billion to provide grants and low interest loan schemes to those trapped in debt in North and East.”
      This is downright discriminatory. Why only people in the North & East? Almost all ordinary citizens in the South are also trapped in some kind of debt. If the government provides grants and low interest loan schemes, it should be available to all citizens in the country without discriminating one ethnicity.
      .
      4. “Rs 750 mn allocated to empower smart classrooms project.”
      Oh, yeah this. I didn’t see any money allocated in particular to improve or provide basic facilities to a large number of rural schools which are seriously in need of government support. This money should’ve been utilized to minimize the gap between rural and urban schools in terms of necessary facilities.

    • 1
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      5. “Smuggled Cigarettes have flooded into the market creating major source of revenue leakage!!!”
      Ok, that is what the government’s concern, not being able to make money. Therefore, they issue licenses to encourage importing Cigarettes/Cigars. Vatican has banned cigarettes completely. Government should seriously pay attention to build a smoke-free younger generation than giving priority to earn money exploiting people’s harmful habits.
      .
      6. “Restrictions that limit land ownership rights of listed companies with foreign owners to be removed.”
      This is not acceptable. These restrictions are in place to protect our lands from being excessively owned by foreigners. I don’t see any country removing this type of restrictions but strengthening them.
      .
      7. “25 cents levy on SMS advertising”.
      Is that how the government intend to encourage local business?
      8. “Cellular Tower Levy on mobile towers and will be paid by the mobile tower operator.”
      “Levy will be paid by the advertiser/mobile tower operator.” !!!! Mangala expects advertisers/mobile tower operators to run a charity business to not to pass this expenditure to the client. Give me a break man.
      .
      9. . “The rates of fees/charges of government agencies which have not been revised in last 03 years will be increased by 15%.”
      This is too much burden for a common man. Government should categorize services and exclude that are mostly used by ordinary citizens.
      .
      10. “Non-potable alcohol Excise duty will be imposed on import of non-potable alcohol at Rs.15/- per Kg.”
      Non-potable alcohol is very harmful to humans, so much so selling non-potable alcohol to already intoxicated people is totally banned in many Western/North American countries. Non-potable alcohol should be banned from selling as beverages and additives such as bitters should be prohibited completely, if the FM genuinely supports President’s admirable campaign for a alcohol-free country.

      • 0
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        • 0
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          Jimsofty the dimwit

          Brilliant

    • 1
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      11. “Issuance of new liquor license will be simplified to promote tourism.”
      “Canned Beer Excise (Special) Duty applicable on canned beer will be removed.”
      .
      Do I get this right? What does tourism has to do with liquor licenses? This man is insane. Do tourists visit Sri Lanka for a booze or do they visit to see the mesmerizing beauty of the country, or to watch blue whales, wild animals, especially elephants, or to visit archaeological sites, or to see cultural festivals like Perahera, or to taste our unique delicious aromatic food which don’t need alcohol as an accompaniment, or to surf, or to spend memorable time on peaceful stunning beaches,…. I can write 25 reasons why tourists visit Sri Lanka, if the Finance Minister thinks that the foremost hindrance for promoting tourism is not having facilities to have a booze for tourists. “Simplifying” can be allowing even a kiosk to sell liquor. Any fool can see that FM’s real motive is not promoting tourism but promoting liquor and that also in abundance which is supported by his other proposal to remove Excise Duty on canned beer to make them popular among younger generation so that his government will have a great income. If this government really care for the future generation, there should be strict regulations for liquor licenses and increased Excise Duty on canned beer and all alcohol so that majority of people won’t be able to buy them.
      .
      I should stop here. Overall this Budget is nothing but taxes, levies and duties. I didn’t see a single proposal to generate government income from new projects other than robbing from people/businesses. FM has only paid attention to regularize prices with a view to making money. There isn’t any tangible measure to reduce prices of essential items.

    • 1
      0

      mangala decreased Beer Taxes in order to promote Beer. In the west, Beer is like water. What will happen, then Multi national beer companies come and buy out Sri lankan companies. those who drink hard liquor do not reduce their consumption. Statstistics from the west prove it. anyway, the cost because of alcoholism is not counted mangala went to California and infront od Tamils, I suppose, he told since 1948 they only destroyed Sri lanka. So, this budget is no different.

    • 1
      0

      In the west, both in the USA and Canada, Cigerette companies were sued and the govts won multi-billion dollar comphensation cases. the reason is cigeretee smoking is addictive, causes emphysema, cancer. Stupid mangalaya is going to earn money from cigerette. Why Dumb voters silent and do not chase out these arrogant idiots who think they know everything.

    • 1
      0

      The minister for opening buildings and giving speechaes, Mr Maithripala sirisena has proved that he amounts to nothing. IT is Ranil and the gang of theives ruin the country, not governing. MY3 doe snot know kwhich way to turn. some where I read one (S)enerath (B)andara dissanaya had opned a account some where in the name of Avant guard Limited. IT was in Panama Papers. Rajitha Senarathne, Wije Rajapakas, Mangala Samraweera and now S.B. dissanayake. It is many more. some say they will bring their money hidden in the west once the govt changes. ——— Anyway, Ranil did not want Avent guard Succeeding. Instead, they destroyed it and tried to get some political milage. Instead, Ranil caught in the same. I think Ranil did it in order to get prepared for the next election. No one will be prosecuted. MY3 is also a liar. At the end he might quit. Election will be against, foreign countries vs foreign countries plus avant guard money vs centrqal bank money (all stolen).

  • 0
    0

    I didnt read the budget in detail. Is there a budget provision to encourgae the fastetst growing sectro “export of maids to middle east” I read that the govt may provide free tiakctes on the Sri Lankan airlines to encourage more maids to go to ME and remit FX to Sri Lanka

    ps – sorry about the typo and spelling. CT have turned of ayuo correct.

  • 0
    0

    This is a progressive budget. However, It lacks the required focus on foreign direct investments, improving the rail tracks and modernization of the train service. Investments in a world class refinery with access to the local market, a LNG plant that generates the power requirements of the future Etc. in Hambantota should be encouraged, without incurring wasteful expenditure in an inefficient LNG plant in Kerawalapitiya and expanding the capacity of the CPC refinery in Sapugaskanda.

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